GBP/USD recovers from 2-week lows

GBP/USD reversed early losses and turned intraday positive as the greenback gave up ground across the board while investors await the release of FOMC meeting minutes.

GBP/USD bounced from a 2-week low of 1.4234 and regained the 1.43 mark in recent dealings. The pair climbed to a session high of 1.4336, just a few pips shy of its European peak of 1.4338. At time of writing, the pair is trading at 1.4315, 0.1% above its opening price as investors remain sidelined ahead of the Federal Reserve minutes release.

GBP/USD technical levels

As for technical levels, next resistances line up at 1.4390 (10-day SMA), 1.4449 (200-hour SMA) and the 1.4515/20 zone (Feb 16 high/38.2% retracement of Dec-Jan 1.5239-1.4078 fall). On the flip side, supports are seen at 1.4227 (Feb 1 low), 1.4148 (Jan 29 low) and 1.4078 (Jan 21 low).
For more information, read our latest forex news.

Useful Searches

Disclaimer - Forex, futures, stock, and options trading is not appropriate for everyone. There is a substantial risk of loss associated with trading these markets. Losses can and will occur. No system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using the information contained on this site will generate profits or ensure freedom from losses.